I have a merchant who owns a refrigeration company I am currently working with that just got an advance for $192,000 about 3 months ago at a 1.44 factor rate. His gross annual revenue is about $2.2 million.

Now what he would like to do is payoff the current advance(He was given a pre-payment addendum) and net a little extra capital on top at a lower factor rate than 1.44. I realize this is a long shot because the amount that would need to be paid off would be around 200k.

If this is not possible, he would also take a second position, but would have to beat a 1.44 factor rate.